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The Global Food Additives Market is growing rapidly mainly due to the augmented adoption of these additives led by the demand from the burgeoning food & beverages industry, worldwide.Over the past few years, the F&B industry is proliferating attributing to the growing population, urbanization and improving economic conditions. Moreover, factors such as the rapidly changing, lifestyle and consumer preference inclining towards packaged/ ready to eat foods and frozen foods are escalating the market on the global platform.
Acknowledging the exponential growth, the market is garnering currently, Market Research Future (MRFR) in its recently published study report asserts that the already thriving Global Food Additive Market will further gain colossal accruals by 2023, registering a considerable CAGR during 2018 to 2023.
Additional factors substantiating the growth of the market include growing disposable income and rising urban middle-income group. Globally, western countries account for the highest demand for food additives. Extensive use of these additives in domestic as well as commercial food preparation settings defines the growth landscape of the market, globally.
On the flip side, factors such as the stringent government regulations that outlaw specific food additive inhibits market growth. For instance; the US FDA Banned the use of around seven synthetic food additives after environmental groups take the legal action.
Similarly, CBD-infused food is banned by the Health Department at restaurants in New York. While, the FDA is yet to decide two overlapping petitions a food additive petition requesting the agency take action on uses of ortho-phthalates in contact with food submitted by Earthjustice, EDF, and nine other public health allies.
Key Findings
Flavors and sweeteners are projected to experience a high demand in the foods & beverage industry due to the increasing demand for sugar substitutes.
Increasing demand for high-quality food products and changing consumption patterns increase the demand for food additives.
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Global Food Additives Market Competitive Analysis
Highly competitive the Global Food Additives Market appears fragmented owing to the presence of a sizeable number of well-established players. These players incorporate strategic initiatives such as acquisition, collaboration, expansion, partnership, and product & technology launch in order to gain a competitive advantage in this market and to maintain their market positions. The market is expected to witness fierce competition due to the predicted product & service extensions and product innovations.
These leading players have also made high investments locally as well as in the emerging countries to expand their distribution network, production capacity, and supply chain. The supplier s strategy to sustain in the market is to obtain strong financial support. These players strive to minimize the cost of their product by adopting cost-effective manufacturing methods.
Major Players:
Key players leading the Global Food Additives Market include-
Archer Daniels Midland Company (US)
Cargill India Private Limited, E. I. du Pont de Nemours & Company (US)
Chem-Mex Industries Incorporated (US)
CHR. Hansen Holding A/S (Denmark)
Kerry Group Plc. (Ireland)
Novozymes A/S (Denmark)
BASF SE (Germany)
Global Food Additives Market Segments
For enhanced understanding, the report has been segmented into four key dynamics.
By Product Type
Antioxidants
Nutrition Enhancer
Flavoring Agent
Sweeteners
Emulsifiers
Colorants
Acidity Regulators
By Application
Bakery & Confectionery
Dairy & Beverages
By Packaging
Bag
Sachet
Bulk
Mason Jar
Bottle
Drum
Box
By Regions
North America
Asia Pacific
Europe
Rest-of-the-World
Global Food Additives Market Geographical Analysis
The European region is expected to continue with its dominance over the global food additive marker, heading with the presence of a large number of food enthusiasts & connoisseur populaces. The Europe food additives market is expected to surge, witnessing the high consumption of these products. Certainly, the resurging economy is positively impacting the market growth in Europe, increasing the consumers purchasing power.
Countries such as the UK, France, Italy, and Germany backed by the presence of a large number of well-established market players, account for the major contributors to the growth of the regional market. Also, improvement in the cattle breed management coupled with the growing dairy industry in New Zealand is likely to influence food additives demand, positively.
The food additives market in the North American region accounts for the second-largest market, globally, mainly due to the high per capita income. The US backed by the continual R&D efforts transpired to bring novelties in these products majorly contributes to the growth of the regional market.
The Asia Pacific food additives market has emerged as a promising market, globally, witnessing exponential growth. The burgeoning food and beverages market in India and China, led by the resurging economy is creating a huge demand for food additives. Favorable regulations aimed at promoting foreign investments in domestic F&B industry is another key driving force behind the growth of the regional market growth.
Simultaneously, the increasing importance of functional ingredients for imparting properties such as flavor, emulsification, and enhanced shelf life in the product is expected to drive the market demand for food additives in the APAC region.
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In order to stay updated with technology and work process of the industry, MRFR often plans & conducts meet with the industry experts and industrial visits for its research analyst members.
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